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Mediation

A Mediation Approach to Divorce

You’ve been working for months to resolve your issues with your spouse but you still can’t seem to see eye to eye on anything. You can’t imagine this might be the end of your marriage, but you have no other option but to file for divorce. It can be a hard time. But if you aren’t constantly warring and are still able to have face to face conversations with your spouse without starting World War III then you might want to consider a different approach to divorce: mediation

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Mediation

The mediation process allows for negotiation, during which everyone involved works toward an outcome that feels fair to both parties. This shared and agreed to outcome has become a popular option in the U.S. over the years, and has helped to settle 50-80% of divorce cases. Working through a divorce with a mediator allows couples to be less defensive and more informed about both sides. Mediators help to aid the process by offering advice and other alternate solutions that a couple may not have considered. Also, the process of mediation tends to take  half the amount of time a divorce that needs to go to court does. On average couples spend at least 50% of the cost of an average divorce because of that decrease in amount of time. This happen because you will not need to pay the legal fees of going to court and working with a judge as is usually needed for a traditional court proceeding.

Working Towards an Agreement

For a mediation process to work, both parties need to be focused on coming to an agreement. If the parties cannot agree to that, chances are it won’t work. A couple will then need to pursue a traditional court process. But mediation presents a positive environment for couples that want to avoid the combative and litigious process that often comes with going to family law court.

Preparing for Your Mediation

You and your spouse have decided that you want to avoid as much conflict as possible. You’ve both agreed to act like mature adults when it comes to ending your marriage with mediation. You have a mediation date set. Now you need to know what else to expect as you enter your mediation session.

Financial Documents

Before your first mediation session, make a list of all the assets you have. This list should include all financial information you have about: bank accounts, mutual funds, retirement funds, real estate, vehicles, time shares, businesses, and stock. You’ll also need to prepare a list your debts including monthly credit payment, mortgage and home equity payments, private loans, and car loans. Make sure you have all the information, or at least as much as possible. Ensure the information is organized and in a form that will allow the mediator to be able to clearly review it during the session.

Leave Your Emotions at the Door

Mediation is meant to be a negotiation process, not one in which you start crying or screaming at your soon to be ex. Getting emotional will not allow you the clear head you need for the mediation process. This is not the time to “get back” at your ex-spouse. This is the time to negotiate, and not argue, so you can come to a final agreement. Remember the end goal and what you are trying to accomplish. You also need to be realistic. Chances are you will not walk away having received everything you wanted. Being able to look forward and remember that will help you stay out of the nit-picky weeds of settling a divorce agreement. Still, be forthright about what you want.

Scheduled Sessions

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You, your spouse, and your mediator team will put together a series of scheduled sessions, during which you will all meet as a large group. The first session will be for disclosing all the “hard facts” about the marriage: joint and individual finances (bank accounts, debts, investments, retirement accounts and pensions) and assets (real estate, cars, other vehicles). Depending on how much you are able to get through in that meeting, you will also discuss the “soft” facts. This is the crucial portions of a marriage: family background and history; fears and concerns; issues regarding children, and other non-financial matters.

Once all the “facts” are on the table, the mediator or mediators help the parties identify a range of possible solutions. These solutions will take everything into consideration a well as what each party (and any children involved) will need to survive after the divorce.

The next step is the “solutions phase.” During this time, the spouses speak directly to each other about various options  that have been presented and discuss whether or not those options do or do not meet their concerns. During this time, if it seems the couple is able to communicate without getting emotional or upset, the mediator keeps quiet. But if a couple gets stumped,, or if emotions and tempers flare, the mediator can choose to step in to keep them on task or provide a suggestion the couple might not have thought of. The couple is encouraged to do most of the leg-work in figuring out how to solve the problems. A mediator’s goal and role is to help identify options, keep discussions on track, minimize unproductive or hostile discussion, and to create and maintain a forward-moving momentum.

During the process the people that have the facts and are best equipped to make decisions – the people in the marriage – have control.

Reaching an Agreement

During the course of the mediation, or when the mediation is completed, a detailed written divorce agreement is drafted. This written agreement, when finalized and signed, is what you have been working towards during the divorce process. A judge will review this agreement in court. . You will need to appear at the final divorce hearing so the judge can review the written agreement. In all successfully mediated cases, the court hearing is an “uncontested hearing” during which a couple presents its agreement to the judge and asks the judge to accept it. After that the divorce is final. It then becomes “the law” between the parties after the divorce. It is now legal and binding, just as it would be if the parties had reached an agreement through the standard process of hiring separate attorneys to represent each of them.

You will need to adhere to the provisions laid out in the divorce agreement regarding child custody and visitation, child support, marital property division, and alimony.

Mediation Just for Friends?

Mediation is also not a process that only works for couples that are “still friends.” A lot of couples that go through the mediation process do not get along, but are able to because of the help of a neutral third-party mediator. This form of communication does however help open up lines of communications while allowing for misunderstandings to get cleared up. Both spouses are encouraged to move forward toward a solution. Still, it’s important for couples to remember that the solution is the goal, rather than opening up old arguments. While you might run into arguments during the session (that’s totally normal) you should not go into the session with plans of reviewing and “solving” old arguments. That is not the purpose of the mediation process. You are there to work towards one goal: a divorce agreement that you both agree to.

When Mediation Doesn’t Work

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Often times mediation will not be the answer to your divorce. Chances are that if a couple was not able to get along during the marriage, there are reasons that mediation will not work. If you have met with a mediator and your spouse and are still not able to come to a decision regarding aspects of your marriage, chances are you will need to go the route of a formal divorce process. Do not consider that a failure! Divorce is difficult for everyone, regardless of the process.

A Family Law Attorney

There are a number of things that need to be considered during a divorce. You and your spouse will need to come to an agreement that settles every aspect of your marriage.  Child support, spousal support, marital property division can all be agreed to through the process of mediation. Working with a skilled mediation attorney can help ensure you get a fair case.  For advice on divorce, child custody determinations, setting up a co-parenting agreement, dividing marital property, and spousal support you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Divorce Law LA, Esq.

Divorce Law LA

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

https://bestdivorcelawyer.co

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Child Custody Child Support Child Visitation Collaborative Law Divorce Family Law High Net-Worth Divorce Marital Property Division Mediation Spousal Support

Divorce and Your Bank Account

No one has ever said that divorce is a cheap process. For the most part, if you and your spouse are unable to come to a decision on things, divorce can be an expensive process with an expensive aftermath.

To Consider Before You Divorce

If you are unhappy and unable to continue your marriage, then divorce might be the best option for you. There are some financial considerations you will need to make. Here’s a little of what you can expect:

  • Living as a single person costs more. This can be increasingly true for couples that share children.
  • Your standard of living might drop because of increased living costs that are no longer being shared.

But there are ways to minimize the financial damage. You’ll want to review these steps if divorce is in your future.

Minimize Financial Pain During Divorce

Work with a Lawyer

Negotiation versus Litigation in a Slip and Fall Case

Even if you have decided that you don’t want to work with an attorney, at least consult one so that you are aware of your rights and options. You need to protect yourself. Even the most amicable of divorces can get sticky when it comes to ironing out the legal ramifications and you’ll want to do the best you can when it comes to protecting yourself. Remember that bitterness can cause people to do things they wouldn’t normally. Most lawyers offer a free first consultation.

Look at Your Credit Reports

You are able to pull free credit reports three times a year. These reports show all of the credit accounts that exist in your name, in addition to those you share with others. You’ll want to look for new accounts opened in your name and any changes that are unexpected. Your credit score can be damaged by a spouse that fails to pay joint bills.

Close and Monitor Your Joint Accounts

A lot of times divorcing spouses will move money from joint accounts to individual accounts so that the other spouse is unable to recover the cash. A lot of times this leads to large amounts of debt on joint credit cards, for which the innocent spouse is also responsible for.

The Consumer Financial Protection Bureau says:

When you have a joint account, each account holder is responsible for the full amount of the balance. The card issuer can seek to collect the amount due from either account holder.

Because of this, it’s advised that you close or freeze your shared financial accounts, including credit cards, joint bank accounts, and lines of credit. You will then need to open lines of credit under your own name. You might consider moving to new institutions to avoid confusion. If your spouse is resistant to this, try to do it on your own by consulting the account rules in the contract you signed when opening the account. You can also ask your bank to help.

Remember to also remove your spouse’s name as an authorized user from your personal accounts.

If you must retain a shared account because of costs related to children, try to limit it to one. Make sure to monitor the activity on the car by requesting balances and records of the most recent transactions. You can do this from an ATM, bank branch, or online.

Document Your Money — All of It

Try to locate every single marital financial resource, including:

  • All accounts and assets held jointly and individually. Record the balance, date, account number, authorized users, and contact information for each bank or creditor.
  • Incomes, property, retirement plans and all other assets owned jointly and individually. This should include vehicles, homes, jewelry, furniture, brokerage accounts, and insurance policies.

Make sure you keep everything in one place. Regardless of if you work with a lawyer or not, the court will need statements and documents pertaining to all accounts, assets, bills and debts. Organize everything in a file cabinet. Include:

  • 401(k) statements
  • Insurance policies
  • Real estate purchases
  • Mortgages and refinances
  • House appraisals
  • Brokerage accounts
  • Money market accounts
  • Tax returns

Work with a Divorce Financial Analyst

You might consider working with a divorce financial analyst that can help with your settlement by:

  • Locating assets. This also includes hidden assets.
  • Ensuring information about family finances is accurate and complete.
  • Developing a long-term forecast of how your divorce will affect your finances when it comes to retirement needs, tax liabilities, and benefits.
  • Developing a realistic household budget so that you know where you stand in terms of life insurance, health insurance, and cost-of-living increases.
  • Appraising and/or valuing assets.
  • Preparing financial affidavits that describe your financial and tax implications when it comes to various divorce settlement options.
  • Mediating a financial agreement between you and your soon-to-be ex-spouse.

Get Your Name on the Deed

Regardless of if you are getting divorced or not, make sure your name is on titles and deeds of property you own together. This is important for all spouses, and can become an issue in cases of a spouse passing away.

This property is considered marital property in the state of California, and will need to be divided should you divorce your spouse.

When it comes to dividing assets during a divorce there are various concerns you will need to deal with when it comes to dividing the marital property.

What State do you Live in?

Keep a Journal in Your Personal Injury Case

State laws govern how the marital property will be divided. You will need to do your research and check with an attorney to see if you live in an equitable distribution state or a community property state.

Other Considerations

There are four other steps that need to be considered when diving marital property:

  1. Identify the assets owned by you and your spouse
  2. Categorize all assets as marital or non-marital property
  3. A value will need to be assigned to the assets
  4. Devise a plan for the division of assets that is in accordance with state laws

No Fault Divorce Laws

Though most states separate the division of marital property from grounds for divorce due to no fault divorce laws, most states do consider any financial misconduct when it comes to dividing marital property. What this means is if you or your spouse has foolishly spent money then you or your spouse will most likely be penalized when it comes to dividing marital property.

Separate Join Financial Obligations

If you feel the division of marital assets might be a contentious point between you are your spouse, you might want to consider separating financial obligations prior to starting the divorce process. Marital property does not only mean furniture and household items, but also joint credit accounts. Each spouse should have access to a complete set of all financial documents. You’ll also want to close all joint credit card accounts. If you’re not able to fully separate the accounts, draft a formal written agreement outlining the activity on the remaining joint accounts. Freeze any investment assets – this will ensure neither spouse misuses funds until everything has been agreed upon. You might also want to consider changing the title on your home to read “tenants in common” until the final agreement regarding marital property has been decided upon.

Change Beneficiaries & Rewrite Your Will

After your divorce you will need to change the beneficiary on your assets, including  insurance or stocks, bank accounts or retirement accounts. You’ll also want to update your will too if it lists your spouse’s name.

Have a Financial Plan

You’ll need to know how to budget according to your new income amount. Putting this together before entering the divorce process will help you understand your needs following the divorce so you can come to a settlement that works.

Make sure you plan for college tuition, child care, children’s lessons, sports and activities, and your own retirement, taxes, transportation and housing.

Financial Future

Considering your financial situation after your divorce can feel daunting and overwhelming, but if you take the right steps, you can be sure to set yourself up for financial freedom. It might take some tweaks, but consider the fact that you are now completely in charge and able to make your own decisions regarding how your money will be spent. Embrace it, and embrace the freedom you now have.

A Family Law Attorney

When it comes to the actual legal process of a divorce, you’ll want to work with a skilled family law attorney There are a number of things that need to be considered during a divorce: child support, spousal support, marital property division, and other things. Working with a skilled attorney can help ensure you get a fair case.  For advice on divorce, child custody determinations, setting up a co-parenting agreement, dividing marital property, and spousal support you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Divorce Law LA

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

https://bestdivorcelawyer.co